Cyprus Bailout | South’s ‘Plan B’ Rumoured to be Decided Today

Cyprus Bailout | South’s ‘Plan B’ Rumoured to be Decided Today

The Famagusta Gazette and the Hindu Business Online is saying that, what is becoming known as, Cyprus Rescue Plan B is being put in front of the south’s Parliament today, Thursday 21 March 2013. The rumour, and a rumour it is, is that a decision MUST be made today. The source of the rumour is the Official Cyprus News Agency.

‘President Anastasiades will put a proposal on the table at a political parties leaders meeting at 09.30 hrs, which is expected to be put to the vote before the Cyprus parliament in the afternoon.’

Details of the plan are sketchy but are quoted as being a:

‘Structural investment fund, which will be reinforced by various provident funds, real estate etc with a view to ensure an amount high enough, which will then also be enhanced by an additional fund on the part of Cyprus’ European lenders. The fund will also be linked with a bond issue and natural gas prospects… this fund will not further burden public funds.’

Meanwhile, in Russia, negotiations are still ongoing with Gazprom, the largest gas supplier in the world, establishing how much of the gas, the south believe is its, the company wants and what they are willing to pay for the privilege. Fear is that the giant company wants to control gas destined for Europe and there is a good chance it will get its way if Turkey and Israel’s interests are not interfered with.

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